You have probably watched some recent TV commercials by a well-known Canadian Bank about “combination” or “hybrid mortgages”.

The reason for these advertisements lies behind the findings of a recent survey conducted on behalf of the same Bank that found that 91 per cent of Canadian homeowners believe a home is a good investment, the highest level in 12 years, and 26 per cent expect their home to be their primary source of income when they retire.

The study also found that the portion of Canadians who are very likely to purchase a home in the next two years raised to 10 per cent from 7 per cent two years ago, while 40 per cent of respondents who said they were interested in buying a home this year, said they were considering a  “combination” or “hybrid mortgage”. That’s up from 32 per cent the previous year.

The Mortgage Girl has a similar product called the 50/50 Wise Mortgage.
With this kind of Mortgage you are allowed to split your loan amount between fixed interest and variable interest rates. This means that regardless of the economic situation your loan will be partially suited to the economic circumstances.

The 50/50 Wise Mortgage is ideally suited for those who are unsure whether to go Variable or Fixed. This product eliminates the biggest dilemma facing mortgage borrowers in today’s economy.

Another point to be considered is that the weighted average interest rate on this mortgage is approximately 2.95% given today’s current pricing! And only 50% of the mortgage is subject to interest rate risk.

The two portions operate independently of each other, so you can choose to make prepayments on the fixed portion which has the higher interest rate or you can choose to pay down the ARM portion aggressively, which in turn further minimizes their future interest rate risk.

We offer the best mortgage rates. Contact us for more information, we will reply within 2 business hours.

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